AI California Purchase Agreement

1. Property The real property that is the subject of this Agreement is located at:

[[Property Address]]

Legal Description: [[Legal Description]]

Assessor's Parcel No.: [[Assessor Parcel Number]]

Personal property included: [[Included Personal Property]]

The Property is sold "as is" except as otherwise provided in this Agreement or required by law.

2. Purchase Price The total purchase price is [[Purchase Price]] (the "Purchase Price").

3. Earnest Money Deposit Initial earnest money deposit of [[Initial Deposit Amount]] shall be delivered to Escrow Holder within [[Initial Deposit Days]] business days after Acceptance.

Increased deposit (if any) of [[Increased Deposit Amount]] due [[Increased Deposit Due Date]].

All deposits shall be held by neutral third-party Escrow Holder: [[Escrow Holder Name and Contact]]

4. Financing Contingency This Agreement is contingent upon Buyer obtaining a commitment for a loan in the amount of [[Loan Amount]] on terms acceptable to Buyer within [[Loan Contingency Period (days)]] days after Acceptance (default 21 days).

If Buyer is unable to obtain financing despite good faith efforts, Buyer may cancel and receive refund of deposits, less any non-refundable fees agreed in writing.

5. Appraisal Contingency This Agreement is contingent upon the Property appraising at or above the Purchase Price. Buyer shall order appraisal promptly. If appraisal is lower, parties may renegotiate or Buyer may cancel within [[Appraisal Contingency Period]] days after receipt of appraisal.

6. Inspection and Due Diligence Contingency Buyer shall have the right to conduct inspections of the Property, including but not limited to physical, pest, roof, chimney, pool/spa, sewer scope, and any other inspections Buyer deems appropriate.

Buyer shall complete inspections and deliver written notice of cancellation or request for repairs within [[Inspection Contingency Period (days)]] days after Acceptance (default 17 days).

Seller shall provide reasonable access. Buyer shall restore Property to prior condition after inspections.

7. Title and Preliminary Report Seller shall deliver a current preliminary title report to Buyer within [[Title Report Delivery Days]] days after Acceptance. Buyer shall have [[Title Review Period]] days after receipt to object to any title matters.

Seller shall convey marketable title by grant deed free and clear of liens and encumbrances except: current taxes, HOA assessments, recorded easements and restrictions that do not materially affect use, and any other matters approved by Buyer in writing.

8. Escrow Escrow shall be opened with the Escrow Holder identified above. This Agreement constitutes joint escrow instructions. Escrow shall close on or before [[Closing Date]] ("Closing").

9. Closing and Possession Closing shall occur on [[Closing Date]]. Possession shall be delivered to Buyer on [[Possession Date]] at [[Possession Time]].

Seller shall deliver Property vacant, clean, and in the same condition as on the date of Acceptance, reasonable wear and tear excepted, with all debris removed.

10. Prorations and Adjustments Taxes, HOA dues, rents, interest, and other items shall be prorated as of the Closing date based on a 30-day month / 360-day year unless otherwise required by local custom or law.

11. Sale of Buyer's Property Contingency (if applicable) This Agreement is contingent upon the close of escrow of Buyer's property at [[Buyer's Current Property Address]] by [[Buyer's Sale Contingency Date]]. Buyer shall provide written evidence of listing and progress within 5 days of request.

12. HOA Documents Contingency If the Property is subject to an HOA, Seller shall deliver all required HOA documents (CC&Rs, bylaws, financials, meeting minutes, etc.) within [[HOA Docs Delivery Days]] days. Buyer shall have [[HOA Review Period]] days after receipt to review and cancel if dissatisfied.

13. Required Disclosures and Reports Seller shall deliver the following to Buyer within the timeframes required by law and this Agreement:

• Transfer Disclosure Statement (TDS) per Civil Code § 1102
• Natural Hazard Disclosure (NHD) report
• Lead-based paint disclosure and pamphlet (if pre-1978)
• Any other required state or local disclosures (Megan's Law, smoke/CO detectors, water heater bracing, etc.)
• Any known material facts affecting value or desirability

Buyer acknowledges receipt of CAR Form AD (Disclosure Regarding Real Estate Agency Relationships) from the respective agents.

14. FIRPTA Certification Seller represents that Seller is not a "foreign person" as defined in the Foreign Investment in Real Property Tax Act (FIRPTA). If Seller is foreign, Seller shall provide the required affidavit and Buyer shall withhold 15% (or applicable rate) of the Purchase Price for remittance to the IRS.

15. Default and Remedies If Buyer defaults, Seller may retain the earnest money as liquidated damages (see Section 16) or pursue other remedies.

If Seller defaults, Buyer may recover deposits plus damages or seek specific performance.

16. Liquidated Damages If Buyer defaults, Seller shall be entitled to retain the earnest money deposit as liquidated damages. The parties agree that actual damages would be difficult to ascertain and that this amount is a reasonable estimate of the harm to Seller.

Buyer initials: [[Buyer Initials for Liquidated Damages]] Seller initials: [[Seller Initials for Liquidated Damages]]

17. Mediation and Dispute Resolution The parties agree to mediate any dispute arising out of this Agreement before filing any action in court or arbitration. Mediation shall be conducted by a mutually acceptable mediator. If mediation does not resolve the dispute, the parties may proceed to binding arbitration under the rules of [[Arbitration Provider]] or pursue remedies in court as provided by law. The prevailing party shall be entitled to reasonable attorneys' fees and costs.

18. Assignment Buyer may not assign this Agreement without Seller's prior written consent.

19. Governing Law and Venue This Agreement shall be governed by the laws of the State of California. Venue shall be in the county where the Property is located.

20. Entire Agreement; Amendments This Agreement, including all addenda and exhibits, constitutes the entire agreement. No modification shall be binding unless in writing signed by both parties.

21. Time of Essence; Computation of Time Time is of the essence. Days mean calendar days unless business days are specified. Deadlines falling on weekends or holidays are extended to the next business day.

22. Notices All notices shall be in writing and delivered by personal delivery, overnight courier, or email with read receipt to the addresses provided by the parties or their agents.

23. Severability If any provision is held invalid or unenforceable, the remaining provisions shall continue in full force.

24. Counterparts; Electronic Signatures This Agreement may be executed in counterparts and by electronic signature, each of which shall be deemed an original.

25. Exhibits and Addenda The following are attached and incorporated:

• Exhibit A: Property Description (if needed)
• Addendum 1: [[Addendum 1 Description]]
• Other: [[Other Addenda]]

26. Signatures

SELLER

By: _______________________________ Date: [[Seller Signature Date]]

Print Name: [[Seller Name(s)]]

BUYER

By: _______________________________ Date: [[Buyer Signature Date]]

Print Name: [[Buyer Name(s)]]

BROKER / AGENT ACKNOWLEDGMENT

The undersigned real estate licensees confirm they have reviewed this Agreement with their respective clients and have delivered all required disclosures.

Listing Broker / Agent: [[Listing Agent Name]] License #: [[Listing License #]]

Buyer's Broker / Agent: [[Buyer Agent Name]] License #: [[Buyer License #]]

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27. Additional Terms and Conditions The following additional terms and conditions are agreed by the parties:

[[Additional Terms and Conditions]]

Buyer and Seller acknowledge they have read, understand, and agree to all terms of this Agreement, including the timelines for contingency removal and the requirement to act in good faith.

28. Confirmation of Receipt of Copies Each party confirms receipt of a fully signed copy of this Agreement and all referenced disclosures and addenda.

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*Template based on CAR Form RPA-CA and California law. Contingency periods default to industry standard (inspection 17 days, loan 21 days) unless otherwise completed. Escrow held by neutral third party. All [[tokens]] must be completed. This is not legal advice. Parties should consult qualified California real estate counsel and review all disclosures and reports. Provisions current as of 2026-06.*